Korea-EU Free Trade Agreement (FTA)

In addition to the strengthening of traditional Danish exports to Korea, the Korean market’s increasing focus on healthy and specialized foodstuffs, clothing, design and energy-saving solutions is creating further export opportunities for Danish companies. Here you can learn more about the effects of the FTA on Danish exports to Korea. See the sub menu for a sectoral breakdown of the FTA.

The Korea-EU FTA in short

The Korea-EU FTA ensures an unprecedented level of access to the Korean market for Danish exporters. Current estimates show significant increases in trade of goods and services from the EU to Korea in several sectors, notably in areas of particular interest to the Danish business community;

- European exporters saved EUR 1.6 billion from eliminated tariffs and customs at the point of implementation of the FTA.

- The advantages of the FTA to Danish importers include immediate – or short-time -removal of roughly all tariffs on goods and the reduction of particularly sensitive non-tariff barriers (NTBs: barriers to trade other than regular tariffs).

- Danish exporters benefit from an easing up of trade in services to Korea.

- The FTA sets up a line of long-term remedies and instruments to be used for the facilitation of trade between EU and Korea.

- The FTA lays the grounds for increased trade between Denmark and Korea and creates a platform for cooperation on different areas of interest.